Ho Chi Minh City will need up to VND46.8 trillion (US$2.24 billion) to upgrade its worsening infrastructure system this year, according to the city's Department of Transport.
With the investment double that of last year, the city will launch a series of major projects, like building another one million square meters of road along and many bridges, according to the department. The department has also said projects will focus on completing transportation systems in and around major entrances to the city.
A bridge crossing the Saigon River and an urban railway running from the city center to the outskirts will also be among the key projects, it added.
The department said it has so far managed to mobilize nearly VND41.2 trillion ($1.97 million) of the total needed investment.
In related news, authorities in HCMC have proposed that the Ministry of Planning and Investment consider submitting to the government a $187-million project to build a traffic control center with French official development assistance, VnExpress reported Monday.
The project is one of many traffic congestion solutions HCMC has planned, Le Toan, vice director of the transport department, told the newswire.
Under the project scheduled for completion in 2017, cameras will be installed at more than 1,000 intersections, bus stops and toll booths across the city, the report said, adding that all recorded images will be sent back to the control center.
Traffic experts have long urged the city to establish such a center to help guide the flow of traffic, especially during rush hour, the report said.